OFFICE OF AUDITOR OF STATE STATE OF IOWA David A. Vaudt...

OFFICE OF AUDITOR OF STATE STATE OF IOWA

State Capitol Building

Des Moines, Iowa 50319-0004

Telephone (515) 281-5834 Facsimile (515) 242-6134

David A. Vaudt, CPA

Auditor of State

NEWS RELEASE

Contact: Andy Nielsen

FOR RELEASE April 30, 2013 515/281-5834

Auditor of State David A. Vaudt today released an audit report on the Delaware County

Solid Waste Disposal Commission.

The Commission had total receipts of $86,869 during the year ended June 30, 2012, a

71% decrease from the prior year. The receipts included county and city assessments of

$43,743 and interest on investments of $29,727.

Disbursements for the year totaled $163,112, a 56% decrease from the prior year, and

included $100,394 for the excess funds distribution program, $25,222 for landfill

improvements and $24,476 for insurance.

The significant decrease in receipts and disbursements from fiscal year 2011 to fiscal

year 2012 is due to the Lake Delhi flood cleanup which occurred in fiscal year 2011.

A copy of the audit report is available for review in the Delaware County Assessor’s

Office, in the Office of Auditor of State and on the Auditor of State’s web site at

http://auditor.iowa.gov/reports/1214-2325-B00F.pdf.

# # #

http://auditor.iowa.gov/reports/1214-2325-B00F.pdf

1214-2325-B00F

DELAWARE COUNTY SOLID WASTE DISPOSAL COMMISSION

INDEPENDENT AUDITOR'S REPORTS

FINANCIAL STATEMENT

OTHER INFORMATION

SCHEDULE OF FINDINGS

JUNE 30, 2012

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Table of Contents

Page

Officials 3

Independent Auditor's Report 5

Management’s Discussion and Analysis 6-8

Financial Statement: Exhibit

Statement of Cash Receipts, Disbursements and

Changes in Cash Basis Net Assets A 10

Notes to Financial Statement 11-13

Independent Auditor's Report on Internal Control over Financial

Reporting and on Compliance and Other Matters Based on an

Audit of a Financial Statement Performed in Accordance with

Government Auditing Standards 15-16

Schedule of Findings 17-18

Staff 19

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Delaware County Solid Waste Disposal Commission

Officials

Name Title Representing

Dan Stelken Chairperson City of Manchester

D. J. Hucker Vice Chairperson City of Hopkinton

Shirley Helmrichs Member Delaware County

Jeff Madlom Member Delaware County

Jerry Ries Member Delaware County

Mike Corcoran Member City of Ryan

Barb Robinson Member City of Dundee

Bill Alden Member City of Masonville Terry Harbach Member City of Delhi

Bob Nefzger Member City of Delaware

Rich Newman Member City of Strawberry Point

Richard Sampson Member City of Colesburg

Mike Schmitz Member City of Greeley Bruce Hemann Member City of Edgewood

Dan Wheeler Member City of Earlville

Deanna McCusker Secretary/Treasurer

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David A. Vaudt, CPA

Auditor of State

5

Independent Auditor's Report

To the Members of the Delaware County Solid Waste Disposal Commission:

We have audited the accompanying financial statement of the Delaware County Solid Waste

Disposal Commission as of and for the year ended June 30, 2012. This financial statement is the

responsibility of the Commission’s management. Our responsibility is to express an opinion on

the financial statement based on our audit.

We conducted our audit in accordance with U.S. generally accepted auditing standards and

the standards applicable to financial audits contained in Government Auditing Standards, issued

by the Comptroller General of the United States. Those standards require that we plan and

perform the audit to obtain reasonable assurance about whether the financial statement is free of

material misstatement. An audit includes examining, on a test basis, evidence supporting the

amounts and disclosures in the financial statement. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating

the overall financial statement presentation. We believe our audit provides a reasonable basis for

our opinion.

As described in Note 1, this financial statement is prepared on the basis of cash receipts and

disbursements, which is a comprehensive basis of accounting other than U.S. generally accepted accounting principles.

In our opinion, the financial statement referred to above presents fairly, in all material

respects, the cash basis financial position of the Delaware County Solid Waste Disposal

Commission as of June 30, 2012, and the changes in its cash basis financial position for the year

then ended in conformity with the basis of accounting described in Note 1.

In accordance with Government Auditing Standards, we have also issued our report dated April 17, 2013 on our consideration of the Delaware County Solid Waste Disposal Commission’s

internal control over financial reporting and our tests of its compliance with certain provisions of

laws, regulations, contracts and grant agreements and other matters. The purpose of that report

is to describe the scope of our testing of internal control over financial reporting and compliance

and the results of that testing and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance

with Government Auditing Standards and should be considered in assessing the results of our

audit.

Our audit was conducted for the purpose of forming an opinion on the Delaware County

Solid Waste Disposal Commission’s basic financial statement. Management’s Discussion and

Analysis on pages 6 through 8 is presented for purposes of additional analysis and is not a required part of the financial statement. The information has not been subjected to the auditing

procedures applied in the audit of the financial statement and, accordingly, we do not express an

opinion or provide any assurance on it.

DAVID A. VAUDT, CPA WARREN G. JENKINS, CPA

Auditor of State Chief Deputy Auditor of State

April 17, 2013

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MANAGEMENT’S DISCUSSION AND ANALYSIS

The Delaware County Solid Waste Disposal Commission provides this Management’s

Discussion and Analysis of its financial statement. This narrative overview and analysis of the

financial activities is for the fiscal year ended June 30, 2012. We encourage readers to consider

this information in conjunction with the Commission’s financial statement, which follows.

2012 FINANCIAL HIGHLIGHTS

The Commission’s operating receipts decreased 78%, or $201,651, from fiscal year 2011 to fiscal year 2012. This decrease was primarily due to County reimbursements for Lake

Delhi flood cleanup in fiscal year 2011. There were no reimbursements for flood cleanup

in fiscal year 2012. Excluding flood cleanup receipts, operating receipts increased 2%, or

$883, from fiscal year 2011 to fiscal year 2012.

The Commission’s operating disbursements decreased 85%, or $208,928, from fiscal year 2011 to fiscal year 2012. Excluding Lake Delhi flood cleanup disbursements, operating

disbursements decreased 15%, or $6,394, from fiscal year 2011 to fiscal year 2012.

The Commission’s cash basis net assets decreased 6%, or $76,243, from June 30, 2011 to June 30, 2012.

USING THIS ANNUAL REPORT

The Commission has elected to present its financial statement on the cash basis of

accounting. The cash basis of accounting is a basis of accounting other than U.S. generally accepted accounting principles. Basis of accounting refers to when financial events are recorded,

such as the timing for recognizing revenues, expenses and the related assets and liabilities.

Under the Commission’s cash basis of accounting, revenues and expenses and the related assets

and liabilities are recorded when they result from cash transactions.

As a result of the use of the cash basis of accounting, certain assets and their related

revenues and liabilities and their related expenses are not recorded in this financial statement. Therefore, when reviewing the financial information and discussion within this annual report,

readers should keep in mind the limitations resulting from the use of the cash basis of

accounting.

The annual report is presented in a format consistent with the presentation of

Governmental Accounting Standards Board (GASB) Statement No. 34, as applicable to the cash basis of accounting.

This discussion and analysis are intended to serve as an introduction to the financial

statement. The annual report consists of the financial statement and other information, as

follows:

Management’s Discussion and Analysis introduces the financial statement and provides an analytical overview of the Commission’s financial activities.

The Statement of Cash Receipts, Disbursements and Changes in Cash Basis Net Assets presents information on the Commission’s operating receipts and disbursements, non-operating receipts and disbursements and whether the

Commission’s cash basis financial position has improved or deteriorated as a

result of the year’s activities.

The Notes to Financial Statement provide additional information essential to a full understanding of the data provided in the financial statement.

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FINANCIAL ANALYSIS OF THE COMMISSION

Statement of Cash Receipts, Disbursements and Changes in Cash Basis Net Assets

The purpose of the statement is to present the receipts received by the Commission and

the disbursements paid by the Commission, both operating and non-operating. The statement

also presents a fiscal snapshot of the Commission’s cash balance at year end. Over time, readers

of the financial statement are able to determine the Commission’s cash basis financial position by

analyzing the increase and decrease in cash basis net assets.

Operating receipts are received from assessments to members and for tonnage fees from

the Dubuque Metropolitan Area Solid Waste Agency. Operating disbursements are disbursements paid to operate the landfill. Non-operating receipts are for interest on investments. Non-operating

disbursements are for the excess funds distribution program and landfill improvements. A

summary of cash receipts, disbursements and changes in cash basis net assets for the years

ended June 30, 2012 and June 30, 2011 is presented below:

Year ended June 30,

2012 2011

Operating receipts:

County assessments 24,547$ 24,547

City assessments 19,196 21,731

Tonnage fees from the Dubuque

Metropolitan Area Solid Waste Agency 13,399 9,981

County reimbursement for Lake Delhi flood cleanup - 202,534

Total operating receipts 57,142 258,793

Operating disbursements:

Insurance 24,476 24,293

Engineering services 8,719 14,298

Audit and legal fees 2,585 2,679

Lake Delhi flood cleanup - 202,534

Other 1,716 2,620

Total operating disbursements 37,496 246,424

Excess of operating receipts over

operating disbursements 19,646 12,369

Non-operating receipts (disbursements):

Interest on investments 29,727 41,407

Landfill improvements (25,222) (27,267)

Excess funds distribution program (100,394) (100,394)

Net non-operating receipts (disbursements) (95,889) (86,254)

Change in cash basis net assets (76,243) (73,885)

Cash basis net assets beginning of year 1,223,291 1,297,176

Cash basis net assets end of year 1,147,048$ 1,223,291

Changes in Cash Basis Net Assets

In fiscal year 2012, operating receipts decreased $201,651, or 78%, and operating

disbursements decreased $208,928, or 85%. The decrease for both operating receipts and operating disbursements was due to the Lake Delhi flood cleanup overseen by the Commission in

fiscal year 2011. In July 2010, the Lake Delhi dam failure caused significant damage to the

Delaware County area and the Delaware County Board of Supervisors approved the Delaware

County Solid Waste Disposal Commission to oversee the cleanup. $202,534 of labor and trucking

costs were incurred by the Commission and were reimbursed by Delaware County in fiscal year

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2011. There were no reimbursements for flood cleanup in fiscal year 2012. Excluding the Lake

Delhi flood cleanup, operating receipts in fiscal year 2012 increased $883, or 2%, from fiscal year

2011, primarily due to the Commission receiving more tonnage fees from the Dubuque Metropolitan Area Solid Waste Agency. Excluding the Lake Delhi flood cleanup, fiscal year 2012

operating disbursements decreased $6,394, or 15%, from fiscal year 2011. This decrease was

primarily due to a decrease in engineering disbursements.

ECONOMIC FACTORS

The Delaware County Solid Waste Disposal Commission’s financial position did not improve

during the current fiscal year. This was primarily due to the Commission’s decisions to stabilize

members’ fees and return excess funds to the city members and Delaware County. The current

condition of the economy in the state continues to be a concern for Commission officials. Some of

the realities that may potentially become challenges for the Commission to meet are:

Facilities and equipment require constant maintenance and upkeep. The 30-year

responsibility for our closed landfill is still a long-term concern.

Technology continues to expand and current technology becomes outdated, presenting an

on going challenge to maintain up to date technology at a reasonable cost.

The Commission anticipates the current fiscal year will be much like the last and will

maintain a close watch over resources to maintain the Commission’s ability to react to unknown

issues.

CONTACTING THE COMMISSION’S FINANCIAL MANAGEMENT

This financial report is designed to provide our citizens, customers and creditors with a

general overview of the Commission’s finances and to show the Commission’s accountability for the

money it receives. If you have questions about this report or need additional financial information,

contact the Delaware County Solid Waste Disposal Commission by mail at PO Box 574 Strawberry

Point, IA 52076-0279 or by telephone at 563-933-4482.

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Financial Statement

Exhibit A

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Statement of Cash Receipts, Disbursements and Changes in Cash Basis Net Assets

As of and for the year ended June 30, 2012

Operating receipts:

County assessments 24,547$

City assessments 19,196

Tonnage fees from the Dubuque

Metropolitan Area Solid Waste Agency 13,399

Total operating receipts 57,142

Operating disbursements:

Insurance 24,476

Engineering services 8,719

Audit and legal fees 2,585

Supplies 108

Miscellaneous 1,608

Total operating disbursements 37,496

Excess of operating receipts over operating disbursements 19,646

Non-operating receipts (disbursements):

Interest on investments 29,727

Landfill improvements (25,222)

Excess funds distribution program (100,394)

Net non-operating disbursements (95,889)

Change in cash basis net assets (76,243)

Cash basis net assets beginning of year 1,223,291

Cash basis net assets end of year 1,147,048$

Cash Basis Net Assets

Restricted for:

Closure and postclosure care 819,485$

Solid waste tonnage fees 87,794

Total restricted cash basis net assets 907,279

Unrestricted 239,769

Total cash basis net assets 1,147,048$

See notes to financial statement.

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Notes to Financial Statement

June 30, 2012

(1) Summary of Significant Accounting Policies

The Delaware County Solid Waste Disposal Commission was formed in 1989 pursuant to

the provisions of Chapter 28E of the Code of Iowa. The Commission is a joint sanitary

waste disposal project for all persons and property within the boundaries of the political

subdivisions represented.

The Commission is composed of one representative from participating cities and three

representatives from Delaware County. The representative of a city shall be a member of the City Council of that city, appointed and certified to the Commission by the Mayor

with the approval of the City Council. The representatives of the County shall be the

members of the Board of Supervisors.

The member cities are: Manchester, Dundee, Masonville, Ryan, Earlville, Edgewood,

Greeley, Colesburg, Hopkinton, Delhi, Delaware and Strawberry Point.

The landfill operated by the Commission closed December 31, 2000 and private haulers

now take waste to the Dubuque Metropolitan Area Solid Waste Agency for disposal.

A. Reporting Entity

For financial reporting purposes, the Delaware County Solid Waste Disposal

Commission has included all funds, organizations, agencies, boards,

commissions and authorities. The Commission has also considered all potential

component units for which it is financially accountable and other organizations

for which the nature and significance of their relationship with the Commission are such that exclusion would cause the Commission’s financial statement to be

misleading or incomplete. The Governmental Accounting Standards Board has

set forth criteria to be considered in determining financial accountability. These

criteria include appointing a voting majority of an organization’s governing body

and (1) the ability of the Commission to impose its will on that organization or

(2) the potential for the organization to provide specific benefits to or impose specific financial burdens on the Commission. The Commission has no

component units which meet the Governmental Accounting Standards Board

criteria.

B. Basis of Presentation

The accounts of the Commission are organized as an Enterprise Fund. Enterprise

Funds are utilized to finance and account for the acquisition, operation and

maintenance of governmental facilities and services supported by user charges.

Enterprise Funds distinguish operating receipts and disbursements from non-

operating items. Operating receipts and disbursements generally result from

providing services and producing and delivering goods in connection with an

Enterprise fund’s principal ongoing operations. All receipts and disbursements not meeting this definition are reported as non-operating receipts and

disbursements.

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C. Basis of Accounting

The Commission maintains its financial records on the basis of cash receipts and

disbursements and the financial statement of the Commission is prepared on

that basis. The cash basis of accounting does not give effect to accounts

receivable, accounts payable and accrued items, including the estimated payable for closure and postclosure care costs. Accordingly, the financial

statement does not present the financial position and results of operations of

the Commission in accordance with U.S. generally accepted accounting

principles.

D. Net Assets

Funds set aside for payment of closure and postclosure care and solid waste

tonnage fees are classified as restricted.

(2) Cash and Investments

The Commission's deposits in banks at June 30, 2012 were entirely covered by federal

depository insurance or by the State Sinking Fund in accordance with Chapter 12C of

the Code of Iowa. This chapter provides for additional assessments against the

depositories to insure there will be no loss of public funds.

The Commission is authorized by statute to invest public funds in obligations of the

United States government, its agencies and instrumentalities; certificates of deposit or

other evidences of deposit at federally insured depository institutions approved by the Commission; prime eligible bankers acceptances; certain high rated commercial paper;

perfected repurchase agreements; certain registered open-end management investment

companies; certain joint investment trusts; and warrants or improvement certificates of

a drainage district.

The Commission had no investments meeting the disclosure requirements of

Governmental Accounting Standards Board Statement No. 3, as amended by Statement

No. 40.

(3) Closure and Postclosure Care Costs

To comply with federal and state regulations, the Commission is required to complete a

monitoring system plan and a closure/postclosure care plan and to provide funding

necessary to effect closure and postclosure care, including the proper monitoring and care of the landfill after closure. Environmental Protection Agency (EPA) requirements

have established closure and thirty-year care requirements for all municipal solid waste

landfills that receive waste after October 9, 1993. State governments are primarily

responsible for implementation and enforcement of those requirements and have been

given flexibility to tailor requirements to accommodate local conditions that exist. The effect of the EPA requirement is to commit landfill owners to perform certain closing

functions and postclosure monitoring functions as a condition for the right to operate

the landfill in the current period. The EPA requirements provide when a landfill stops

accepting waste, it must be covered with a minimum of twenty-four inches of earth to

keep liquid away from the buried waste. Once the landfill is closed, the owner is

responsible for maintaining the final cover, monitoring ground water and methane gas,

and collecting and treating leachate (the liquid that drains out of waste) for thirty years.

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Governmental Accounting Standards Board Statement No. 18 requires landfill owners to

estimate total landfill closure and postclosure care costs and recognize a portion of

these costs each year based on the percentage of estimated total landfill capacity used that year. Estimated total costs consist of four components: (1) the cost of equipment

and facilities used in postclosure monitoring and care, (2) the cost of final cover

(material and labor), (3) the cost of monitoring the landfill during the postclosure period

and (4) the cost of any environmental cleanup required after closure. Estimated total

cost is based on the cost to purchase those services and equipment currently and is

required to be updated annually for changes due to inflation or deflation, technology, or

applicable laws or regulations.

The total costs for the Commission as of June 30, 2012 have been estimated at $518,200 for postclosure care. The Commission has restricted $819,485 of certificates of deposit

as of June 30, 2012 for such purposes.

(4) Excess Funds Distribution Program

The Commission determines fees to be paid by its members based on estimated operating

costs and future closure and postclosure care costs. In 2000, the Commission decided

not to open a new landfill when the current landfill was full and to sell its recycling

center. As a result of these decisions and revised estimates for closure and postclosure

care costs, the Commission determined it had collected approximately $1.0 million in

excess funds from its members. During fiscal year 2004, the Commission decided to return approximately $1.0 million to its members over a ten year period. The amount

returned to each member is prorated based on each member’s fiscal year 2002 and

2003 contributions. As of June 30, 2012, $903,546 of excess funds has been

distributed to members.

The Commission continues to collect fees to monitor the landfill postclosure process and

to ensure the Commission remains in a sound financial position.

(5) Solid Waste Tonnage Fees Retained

The Commission has established an account for restricting and using solid waste tonnage

fees retained by the Commission. At June 30, 2012, the unspent amount retained by

the Commission and restricted for the required specific purposes totaled $87,794.

(6) Risk Management

The Commission is exposed to various risks of loss related to torts; theft, damage to and

destruction of assets; errors and omissions; injuries to employees; and natural

disasters. These risks are covered by the purchase of commercial insurance. Settled

claims from these risks have not exceeded commercial insurance coverage in any of the past three fiscal years. The Commission assumes liability for any deductibles and

claims in excess of coverage limitations.

(7) Salary Reimbursements to Delaware County

Delaware County processes the payroll for the employees of the Commission. The

Commission then reimburses the County for the wages and benefits paid through the

County's payroll system. During the year ended June 30, 2012, the County did not bill

the Commission for any salary reimbursements paid through the County’s payroll

system.

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David A. Vaudt, CPA

Auditor of State

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Independent Auditor’s Report on Internal Control

over Financial Reporting and on Compliance and Other Matters

Based on an Audit of a Financial Statement Performed in Accordance with

Government Auditing Standards

To the Members of the Delaware County

Solid Waste Disposal Commission:

We have audited the accompanying financial statement of the Delaware County Solid Waste

Disposal Commission as of and for the year ended June 30, 2012, and have issued our report

thereon dated April 17, 2013. Our report expressed an unqualified opinion on the financial

statement which was prepared in conformity with an other comprehensive basis of accounting.

We conducted our audit in accordance with U.S. generally accepted auditing standards and the

standards applicable to financial audits contained in Government Auditing Standards, issued by

the Comptroller General of the United States.

Internal Control Over Financial Reporting

The management of the Delaware County Solid Waste Disposal Commission is responsible for establishing and maintaining effective internal control over financial reporting. In planning

and performing our audit, we considered the Delaware County Solid Waste Disposal Commission’s

internal control over financial reporting as a basis for designing our auditing procedures for the

purpose of expressing our opinion on the financial statement, but not for the purpose of

expressing our opinion on the effectiveness of the Delaware County Solid Waste Disposal

Commission’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Delaware County Solid Waste Disposal Commission’s internal control

over financial reporting.

Our consideration of internal control over financial reporting was for the limited purpose

described in the preceding paragraph and would not necessarily identify all deficiencies in internal

control over financial reporting that might be significant deficiencies or material weaknesses and,

therefore, there can be no assurance all deficiencies, significant deficiencies or material

weaknesses have been identified. However, as described in the accompanying Schedule of Findings, we identified a deficiency in internal control over financial reporting we consider to be a

material weakness.

A deficiency in internal control exists when the design or operation of a control does not

allow management or employees, in the normal course of performing their assigned functions, to

prevent or detect and correct misstatements on a timely basis. A material weakness is a

deficiency, or a combination of deficiencies, in internal control such that there is a reasonable

possibility a material misstatement of the Commission’s financial statement will not be prevented or detected and corrected on a timely basis. We consider the deficiency described in the

accompanying Schedule of Findings as item (A) to be a material weakness.

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Compliance and Other Matters

As part of obtaining reasonable assurance about whether the Delaware County Solid Waste

Disposal Commission’s financial statement is free of material misstatement, we performed tests of

its compliance with certain provisions of laws, regulations, contracts and grant agreements, non-

compliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not

an objective of our audit and, accordingly, we do not express such an opinion. The results of our

tests disclosed no instances of non-compliance or other matters that are required to be reported

under Government Auditing Standards.

Comments involving statutory and other legal matters about the Commission’s operations

for the year ended June 30, 2012 are based exclusively on knowledge obtained from procedures

performed during our audit of the financial statement of the Commission. Since our audit was based on tests and samples, not all transactions that might have had an impact on the comments

were necessarily audited. The comments involving statutory and other legal matters are not

intended to constitute legal interpretations of those statutes.

The Delaware County Solid Waste Disposal Commission’s written response to the finding

identified in our audit is described in the accompanying Schedule of Findings. While we have

expressed our conclusion on the Commission’s response, we did not audit the Delaware County

Solid Waste Disposal Commission’s response and, accordingly, we express no opinion on it.

This report, a public record by law, is intended solely for the information and use of the

members and customers of the Delaware County Solid Waste Disposal Commission and other

parties to whom the Commission may report. This report is not intended to be and should not be

used by anyone other than these specified parties.

We would like to acknowledge the many courtesies and assistance extended to us by personnel of the Delaware County Solid Waste Disposal Commission during the course of our

audit. Should you have any questions concerning any of the above matters, we shall be pleased

to discuss them with you at your convenience.

DAVID A. VAUDT, CPA WARREN G. JENKINS, CPA

Auditor of State Chief Deputy Auditor of State

April 17, 2013


Schedule of Findings

Year ended June 30, 2012

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Finding Related to the Financial Statement:

INTERNAL CONTROL DEFICIENCY:

(A) Segregation of Duties – One important aspect of internal control is the segregation of

duties among employees to prevent an individual employee from handling duties

which are incompatible. The cash receipts listing, bank deposits, posting of the

cash receipts to the cash receipts journal, check writing, signing and mailing

functions, bank reconciliations and recording of investments are all done by the

same person.

Recommendation – We realize segregation of duties is difficult with a limited number of office employees. However, the Commission should review its control

procedures to obtain the maximum internal control possible under the

circumstances utilizing currently available staff, including Commission officials.

Response – The Commission will continue to review all of the financial documents

and approve at meetings.

Conclusion – Response accepted.

INSTANCES OF NON-COMPLIANCE:

No matters were noted.


Schedule of Findings

Year ended June 30, 2012

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Findings Related to Required Statutory Reporting:

(1) Questionable Disbursements – No disbursements we believe may not meet the

requirements of public purpose as defined in an Attorney General’s opinion dated

April 25,1979 were noted.

(2) Travel Expense – No disbursements of Commission money for travel expenses of

spouses of Commission officials or employees were noted.

(3) Commission Minutes – No transactions were found that we believe should have been

approved in the Commission minutes but were not.

(4) Deposits and Investments – No instances of non-compliance with the deposit and

investment provisions of Chapters 12B and 12C of the Code of Iowa and the

Commission’s investment policy were noted.

(5) Solid Waste Fees Retainage – No instances of non-compliance with the solid waste

fees in accordance with Chapter 455B.310 of the Code of Iowa were noted.

(6) Financial Assurance – The Commission has chosen to designate a portion of its balance to demonstrate financial assurance for closure and postclosure care as

provided in Chapter 111.6(8) of the Iowa Administrative Code. The calculation is

made as follows:

Total estimated costs for closure and postclosure care $ 518,200

Amount Commission has restricted and reserved

for closure and postclosure care $ 819,485

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Staff

This audit was performed by:

Ernest H. Ruben Jr., CPA, Manager

Russell G. Jordan, CPA, Staff Auditor

Andrew E. Nielsen, CPA

Deputy Auditor of State

OFFICE OF AUDITOR OF STATE STATE OF IOWA David A. Vaudt...

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